Advisers could be in trouble if clients commit fraud

12/14/2011 | Reuters

Advisers who fail to alert bosses about a client's suspicious account activity risk fines and censure, as the industry has learned following a case involving a former Raymond James Financial adviser and a client who earned jail time for running a Ponzi scheme. Under tougher anti-money-laundering efforts, advisers are starting to face increased scrutiny, experts say.

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